CAclubindia Articles

Proposed income tax amendments in Budget 2012-13-Part-2

Posted by Amit Bajaj 20 March 2012 104957 Views

Consideration in excess of F.M.V of shares to be treated as income from other source if consideration received is in excess of Face Value of shares: It is proposed to insert a new clause (viib) in the aforesaid sub-section so as to provide that w

Vodafone 'Refund' Amendment - Possession is 9/10th of the law

Posted by ANANDH SUNDAR 20 March 2012 8296 Views

The Budget of FY12-13 dropped a tax bombshell by introducing a retrospective change in law from 1962, directed at Vodafone and other simillar cases. While my esteemed seniors will doubtless analyze or litigate this change in law, I thought it fit to

How Much "Convenience Tax" You are Paying?

Posted by Prof. Bajaj 20 March 2012 8621 Views

"Convenience Tax? When was this tax imposed? Government has no other business than to impose new taxes everyday?" might be a normal reaction after reading the title. Well, the good news is, this tax is not really levied by the Go

Input Service Distributor's choice taken away

Posted by Pradeep Jain 20 March 2012 26311 Views

Changes have been brought in Rule 7 of Cenvat Credit Rules, 2004 vide Notification No. 18/2012-CE (NT) dated 17.03.2012

Playing 'Economic' Moneyball - The Union Budget 2012-13

Posted by Guest 19 March 2012 11210 Views

In 'Moneyball', Billy Beane the General Manager of the Oakland Athletics, a small town baseball team with a tiny budget, faces the challenge of winning games in Major League Baseball beating teams such as the New York Yankees whose budget is

Overview of Amendment in Direct Taxes(Budget 2012-13)

Posted by Ravi Agarwal 19 March 2012 110420 Views

Introduction The provisions of the Finance Bill, 2012 relating to direct taxes seek to amend the Income-tax Act, inter alia, in order to provide for- A

King's Speech - Union Budget 2012-13

Posted by CS LLB Pulkit Gupta 19 March 2012 7274 Views

"For every benefit you receive a tax is levied" Another year of Budget and another year of expectations. Lemme tell you that being Finance Minster of India is not an easy job. Especially when yo

Rajiv Gandhi Equity Savings Scheme

Posted by Indraneel Sen Gupta 19 March 2012 32421 Views

The budget is over and the market is flooded with analyst reviews about the budget. Every budget has provided some tax benefits to the Am Admi(Mango People) linked with the market returns. This time also the Union Finance Minister Shri Pranab Mukher

Budget and provisions related to Trust and society

Posted by Yogesh Agarwal 19 March 2012 13118 Views

Dear all the annual budget had finally placed by the Fin Minister. Some drastic, some dramatical, some difficult to appetite amendments are proposed in the budget.I will not discuss the entire finance bill but only the amendment proposed in relation

New paradigm in Service Tax

Posted by Arun Kumar Singh 19 March 2012 26759 Views

Rajesh Kumar, AdvocateIn 2012 budget, there has been a paradigm shift in the Service Tax Laws. The shift is affecting all businesses- whether they are in manufacturing, service providing, NGOs, Trading or even Government departments. Even individual